The U.S. Federal Reserve Building in Washington, D.C. Win Mcnamee | Reuters Today, the Federal Reserve will publish its latest economic forecasts. There will be an intense focus on the Summary of Economic Projections, which is the Fed’s own estimates for GDP growth, the unemployment rate, inflation and the appropriate policy interest rate. The summary will
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Receive free UK inflation updates We’ll send you a myFT Daily Digest email rounding up the latest UK inflation news every morning. UK inflation was lower than expected in August, falling to 6.7 per cent from 6.8 per cent in July, rather than increasing on the back of higher petrol costs. The drop in almost
An empty parking lot is pictured in front of a Planet Fitness gym and fitness club in Alhambra, California, on May 12, 2020, after stay-at-home orders in Los Angeles County were extended until July amid the Covid-19 pandemic. Frederic J. Brown | AFP | Getty Images Check out the companies making headlines in midday trading.
Moody’s Investors Service revised the outlook on the New York Metropolitan Transportation Authority to positive from stable “based on the significant increase in state tax support that will offset the post-COVID ridership losses and structurally balance projected budget gaps.” The positive outlook “reflects the significant improvement in MTA’s financial forecast due to the state-authorized increase
Municipals were weaker Tuesday as triple-A yields rose in sympathy with U.S. Treasuries. Equities ended the session down ahead of the close of the Federal Open Markets Committee meeting Wednesday. Triple-A yields were cut two to seven basis points, depending on the scale, while UST yields rose four to six basis points, pushing the two-,
AI and crypto isn’t just a buzz phrase AI Eye has been out and about at Korean Blockchain Week and Token2049 in Singapore over the past fortnight, trying to find out how crypto project leaders plan to use AI. Probably the most well-known is Maker founder Rune Christensen, who essentially plans to relaunch his decade-old
Our weekly roundup of news from East Asia curates the industry’s most important developments. Token 2049, one of the largest crypto conferences of the year, attracted a record 10,000 attendees, 300 speakers and 5,000 companies during the two-day event in Singapore. From Sept. 13–14, attendees entering the majestic Marina Bay Sands Convention Expo and Center
Receive free Canada updates We’ll send you a myFT Daily Digest email rounding up the latest Canada news every morning. Canada’s prime minister has said there are “credible allegations” that India’s government was involved in the fatal shooting of a prominent Sikh leader in British Columbia, citing intelligence from national security services. Justin Trudeau on
The lawyer responsible for laundering $400 million from the OneCoin fraud has been denied a motion seeking a new trial, despite a prosecution witness having perjured themselves in the trial against him in 2019. According to a Sept. 18 report from Bloomberg, 54-year-old lawyer Mark Scott argued that he didn’t know OneCoin was a fraudulent
Municipal bonds were little changed and lightly traded along with U.S. Treasuries as participants prepare for a lighter muni new-issue week amid the Federal Open Market Committee meetings. Equities were mixed. “Investor confidence has been boosted by outsized yields not seen for more than a decade,” Nuveen Head of Municipals Daniel Close and Chief Investment Officer
Georgia Gov. Brian Kemp has suspended his state’s gasoline tax for one month as prices at the pump continue to increase. Kemp cited high fuel costs and persistent inflation when he declared a legal state of emergency last week and signed an executive order suspending Georgia’s 31.2 cents-per-gallon tax on gas and 35-cents-per-gallon tax on
The cream most certainly rises to the top at the Shangri-La Toronto Residences. The lower floors of the artfully designed glass-clad tower make up the renowned five-star hotel, the midsection contains condominium residences and the uppermost levels are devoted to what is known as the “private estate” collection. It is within this realm that one
Canadian fintech corporation WonderFi, a firm backed by billionaire Kevin O’Leary, recently announced a strategic partnership between Bitbuy and cryptocurrency ATM provider Localcoin ATM. The partnership, announced on Sept. 18, will shore up Localcoin’s crypto ATM offerings throughout Canada with Bitbuy’s exchange platform and the “deep liquidity” that comes with it, according to a press
U.S. homebuilders are feeling pessimistic about their business for the first time in seven months, thanks to stubbornly high mortgage rates. Builder confidence in the single-family housing market fell 5 points in September to 45 on the National Association of Home Builders/Wells Fargo Housing Market Index. The decrease follows a 6-point drop in August. Anything
Cryptocurrencies like Bitcoin (BTC) have been widely described as going through a bear market in 2023, but this may not exactly be the case, according to indicators such as the website traffic of certain crypto platforms. Some major cryptocurrency websites, such as Binance and Coinbase, have seen a significant traffic drop in 2023, but there
Western companies that have continued to operate in Russia since Moscow’s full-scale invasion of Ukraine have generated billions of dollars in profits, but the Kremlin has blocked them from accessing the cash in an effort to turn the screw on “unfriendly” nations. Groups from such countries accounted for $18bn of the $20bn in Russian profits
Ray Dalio speaks during the 2023 Forbes Iconoclast Summit at Pier 60 on June 12, 2023 in New York City. Taylor Hill | GGetty Images U.S. billionaire Ray Dalio says new investors should have a diversified portfolio as economic and geopolitical headwinds persist. “I would like to have diversification, because what I don’t know is
The price of Bitcoin (BTC) has fallen three days in a row as traders assess many downside factors, including higher transaction fees and bearish signals for risk-on markets from legendary investor Warren Buffett. BTC price dropped below $27,500 on May 9, down 8% from its local high of $29,850 established three days ago. Moreover, the
CrowdStrike IPO at the Nasdaq exchange June 12, 2019. Source: Nasdaq While macro uncertainty continues to distract investors, it is prudent to focus on companies that are well-positioned to navigate challenges with their solid execution and deliver attractive growth over the long term by capitalizing on secular trends. Here are five such stocks chosen by
Receive free Share buybacks updates We’ll send you a myFT Daily Digest email rounding up the latest Share buybacks news every morning. Share buybacks on the US stock market have dropped to the slowest pace since the early stages of the Covid-19 pandemic as rising interest rates undermine the incentive for companies to purchase their